Innovation and Entrepreneurship Investment Authority (IEIA) to Focus on Fostering Technology and Innovation in Virginia

Dulles, VA – October 20, 2009 – AOL announced today that Chief Technology Officer Ted Cahall has been appointed to the newly created Innovation and Entrepreneurship Investment Authority (IEIA). Cahall will be one of 12 citizen board members on the 13-member organization, which is made up of nine non-legislative citizen appointments, three presidents of state higher-education institutions and the Secretary of Technology. The IEIA's role will be to support and encourage Virginia's technology economy. AOL, founded in 1985, has long been one of Virginia's premier Internet technology companies.

"The IEIA is an important new organization that will help enhance Virginia's role as a world technology leader, and I'm honored to have been selected to be a part of this effort," said Cahall. "I look forward to working with the distinguished group of politicians and citizens on the IEIA to support technology and innovation in the Commonwealth."

The Virginia State Senate selected the citizen board members, three of whom are from major technology companies. The Senate has charged the IEIA with developing a consistent, long-term plan for identifying research priorities that will help foster economic development opportunities in Virginia, encourage cooperation between the public and private sector in research and development-related initiatives, and provide for increased legislative input and oversight.

AOL is one of Virginia's premier technology companies with a significant employee presence as well as two data centers in the state. Founded in Northern Virginia, AOL has contributed to the economic development of the region and has fueled the growth and expansion of the area as a major technology hub. AOL will be celebrating its 25th anniversary in 2010.

As Chief Technology Officer of AOL, Ted Cahall is responsible for driving the vision, strategy and delivery of the technology behind AOL's vast array of Web and desktop offerings. He is currently active in the D.C. and Northern Virginia areas through board memberships on the Northern Virginia Technology Council and the Greater Washington Board of Trade, and on the board of directors of the Year-Up and Network for Good non-profit organizations. Cahall holds a BS and MS in electrical engineering and computer science from the University of Illinois at Chicago and completed non-degree, executive MBA studies at the University of North Carolina at Chapel Hill.

About AOL
AOL is a leading global Web services company with an extensive suite of brands and offerings and a substantial worldwide audience. AOL's business spans online content, products and services that the company offers to consumers, publishers and advertisers. AOL is focused on attracting and engaging consumers and providing valuable online advertising services on both AOL's owned and operated properties and third-party websites. In addition, AOL operates one of the largest Internet subscription access services in the United States, which serves as a valuable distribution channel for AOL's consumer offerings. AOL LLC is a wholly owned subsidiary of Time Warner Inc. with employees in 18 countries across the globe.

Contact:
Alysia Lew
AOL
alysia.lew@corp.aol.com
212-652-6376